Several Central Asian newspapers have reported that Uzbekistan plans to invest USD 1.2 bn into upgrading a polyethylene gas-chemical complex in Mubarek. The investment moneys are to be split among three players: the country’s national gas company Uzbekneftegaz (Tashkent; www.ung.uz), which will contribute USD 150m, the Uzbekistan Fund for Reconstruction and Development, which has agreed to front USD 450m and global PET giant Indorama Ventures (Bangkok / Thailand; www.indoramaventures.com), which reportedly will make available USD 600m.

The funds are to go towards upgrading the existing gas plant in Mubarek, scheduled to be completed in 2015, the sources report. Once complete, the upgraded facility is expected to produce some 400,000 t/y of PE as well as compressed hydrocarbon gases, technical gas sulphur and stable gas condensate. The reports further indicate that the Uzbek government plans to sell these products both domestically and on the international market.